Udyam Registration In India: What You Need To Know?
On 1st July 2020, the Ministry of micro, small-medium enterprises in India issued a notification that MSME registration / Udyog Aadhar will be now onwards known as Udyam Registration.
Any person who wants to establish micro, small or medium businesses has to go for Udyam enrollment registration at online portals. After a successful registration process, a registration number and an e-certificate will be issued to the registered micro, small-medium enterprise. The registration certificate validates the existence of your micro, small-medium enterprise by the Government of India. The businesses associated with Udyam can avail of numerous benefits from various relief schemes provided by the Ministry of MSME. It ensures the protection and growth of small businesses in India.
Is My Business Eligible for Registration?
Every micro, small-medium enterprise based in India is qualified.
- Partnership firm
- One Person Company (OPC)
- Co-operative societies
- Private Limited or Limited company
- Limited Liability Partnership (LLP)
What are the Benefits of Registration?
Your micro or small-medium enterprise can enjoy the great benefits of getting a registration certificate.
The Government of India has come up with various schemes and reforms to upgrade small-scale businesses. Your registered micro or small-medium enterprise can become eligible to avail of collateral-free loans from banks.
A small and medium scale business registered under the Ministry of MSME can become eligible to get a subsidy for industrial promotion and patent registration. You can also get an interest rate subsidy on bank loans,
- Reimbursement on ISO certification Charges:
Your Udyam registered and certified micro or small-medium enterprise can claim the expenses for reimbursement that were spent on getting ISO Certification.
- Electricity Bill Concession:
Udyam registered businesses under the Ministry of MSME can get a concession on electricity bills.
- Government Tenders:
Your Udyam registered micro or small-medium enterprise can be a part of the Government tender auction. You can easily avail exemption on applying for government tenders.
- Eligible for Other Approvals:
After getting registered on Udyam under the Ministry of MSME, your micro, small-medium enterprise can also be eligible for other official certificates and approvals.
- Direct Tax Laws Exemption:
Your micro or small-medium enterprise can get a reduction or removal of a liability. It may provide you relief from tax on only a portion of items.
- Be a Part in International Fairs:
Udyam registered businesses can get an opportunity to take part in international fairs. In this way, you can display and promote brand presence globally.
How to get my micro, small-medium enterprise registered?
- The entire process of getting your Micro, Medium, and Small Enterprise (MSME) registered under the Ministry of MSME is online
- No documents or any paper proof are required for registration
- Your Aadhar number is important
- Fill up the online registration form by entering all details correctly
- Pay online for Udyam Application
- Give a valid email address to receive your registration e-certificate
You can avail of the online Udyam registration services at myudyogaadhar.in to enjoy a simple process.
Without uploading or submitting documents, you can register your business under the Ministry of MSME. We are proud to be recognized by the Government of India. Our online platform is dedicated to making the process faster, easier, and hassle-free for businesses.
Myudyogaadhar offers online services for Udyam, Udyog Aadhaar, GST, and Import Code registration.